Farming and Agriculture

Mushroom Market: Global Industry Analysis, Size, Share: Growth, Trends, and Forecast 2024-2032

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06 April 2024, New Delhi: The mushroom market has witnessed significant growth in recent years, driven by a combination of factors including increased awareness of their medicinal properties and the rising adoption of plant-based diets. With a projected CAGR of 8.4% from 2024 to 2032, the global mushroom market is expected to reach a value of US$ 133.5 billion by the end of 2032, up from US$ 64.6 billion in 2023. This article explores the key drivers, market overview, and regional dynamics shaping the mushroom industry’s trajectory towards 2032.

Analyst Viewpoint: The rise in awareness about the medicinal properties of mushrooms has been a primary contributor to the market’s growth. Mushrooms offer various health benefits including anti-bacterial, anti-inflammatory, and immune system enhancement properties. Additionally, extracts from mushrooms are being explored for their potential in treating conditions such as Parkinson’s and Alzheimer’s diseases, hypertension, and stress. The growing adoption of plant-based diets, driven by concerns about environmental sustainability and animal ethics, is also fueling the demand for mushrooms.

Mushroom Market Overview: Mushrooms, characterized by their distinct flavor and fleshy texture, are widely used in cuisines worldwide and are gaining recognition for their medicinal value. They are rich in vitamins, antioxidants, and minerals, offering benefits such as improved immunity and cardiovascular health. Recent trends indicate a shift towards the development of mushroom-based protein alternatives and advancements in cultivation techniques like vertical farming. Key players in the industry are investing in the sustainable production of popular therapeutic mushrooms such as lion’s mane and reishi, catering to the growing demand in the wellness community.

Market Drivers:

  1. Awareness about Medicinal Properties of Mushrooms: Mushrooms are recognized for their medicinal properties, including anti-inflammatory effects and immune system enhancement. Types such as lion’s mane and cordyceps are particularly renowned for their wellness benefits, driving their adoption as natural remedies.
  2. Adoption of Plant-based Diet: The increasing popularity of plant-based diets is bolstering the demand for mushrooms. Their cholesterol-free and low-calorie nature makes them ideal for vegan and vegetarian diets, aligning with the rising trend towards sustainable and ethical consumption practices.

Regional Outlook: Asia Pacific leads the global mushroom market, driven by favorable climatic conditions and a long-standing culinary tradition of mushroom consumption, particularly in countries like China, Japan, and Korea. Europe is also witnessing steady growth, supported by strong agricultural infrastructure and a growing appreciation for culinary diversity. Countries like Germany, Poland, France, and the Netherlands are key producers in the region, with stringent food safety regulations leading to premium offerings.

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These insights are based on a report on Mushroom Market by TMR.

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